Eagle Bancorp (NASDAQ:EGBN) Lowered to “Sell” at Zacks Investment Research

Eagle Bancorp (NASDAQ:EGBN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “EAGLE BANCORP is the holding company for EagleBank. The Bank is headquartered in Bethesda, Maryland, and conducts full service commercial banking services through nine offices, located in Montgomery County, Maryland and Washington, D.C. The Company focuses on building relationships with businesses, professionals and individuals in its marketplace. “

Several other brokerages have also recently issued reports on EGBN. ValuEngine upgraded Eagle Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, February 20th. BidaskClub upgraded Eagle Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, February 22nd. Stephens cut Eagle Bancorp from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, March 6th. Boenning Scattergood restated an “outperform” rating on shares of Eagle Bancorp in a research note on Thursday, April 18th. Finally, Sandler O’Neill set a $60.00 price objective on Eagle Bancorp and gave the stock a “buy” rating in a research note on Monday, April 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. Eagle Bancorp presently has an average rating of “Hold” and a consensus target price of $63.00.

Shares of EGBN stock traded up $0.04 during mid-day trading on Wednesday, reaching $54.95. 64,144 shares of the company were exchanged, compared to its average volume of 201,274. Eagle Bancorp has a fifty-two week low of $45.15 and a fifty-two week high of $65.42. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $1.86 billion, a P/E ratio of 12.43, a PEG ratio of 1.51 and a beta of 0.97.

Eagle Bancorp (NASDAQ:EGBN) last released its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $1.11 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.02). Eagle Bancorp had a return on equity of 14.28% and a net margin of 34.72%. The company had revenue of $81.02 million for the quarter, compared to analyst estimates of $82.25 million. During the same period in the previous year, the business posted $1.04 EPS. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. On average, research analysts predict that Eagle Bancorp will post 4.53 EPS for the current year.

A number of hedge funds have recently bought and sold shares of the business. Arizona State Retirement System lifted its stake in Eagle Bancorp by 0.4% in the first quarter. Arizona State Retirement System now owns 48,845 shares of the financial services provider’s stock valued at $2,452,000 after buying an additional 180 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its stake in Eagle Bancorp by 1.8% in the first quarter. Oregon Public Employees Retirement Fund now owns 12,239 shares of the financial services provider’s stock valued at $614,000 after buying an additional 221 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its stake in Eagle Bancorp by 39.3% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,010 shares of the financial services provider’s stock valued at $51,000 after buying an additional 285 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Eagle Bancorp by 14.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,489 shares of the financial services provider’s stock valued at $121,000 after buying an additional 321 shares during the last quarter. Finally, Mason Street Advisors LLC lifted its stake in Eagle Bancorp by 3.6% in the first quarter. Mason Street Advisors LLC now owns 10,169 shares of the financial services provider’s stock valued at $510,000 after buying an additional 355 shares during the last quarter. Institutional investors own 76.01% of the company’s stock.

About Eagle Bancorp

Eagle Bancorp, Inc operates as the bank holding company for EagleBank that provides commercial and consumer banking services primarily in the United States. It accepts business and personal checking, NOW, tiered savings, and money market accounts, as well as individual retirement and investment sweep accounts; and time deposits.

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